The post Can Coinbase (COIN) Stock Price Hit $400 Ahead of Earnings? appeared on BitcoinEthereumNews.com.

The popular cryptocurrency platform Coinbase Global Inc. (COIN) will soon release its much-anticipated Q4 report. However, even before that, speculation has begun about the possible impact of this earnings report on the Coinbase stock price, as the company’s performance could significantly affect the prices. Coinbase expert CBduck has also presented some interesting insights, claiming that the COIN price could hit $400. Coinbase is one of the biggest crypto exchanges, which is gaining massive adoption worldwide. Its adoption and growth/ earnings are key factors determining the stock prices. So, let’s discuss how the Coinbase earnings could impact COIN stock price. Coinbase Stock Price Looks Promising, $400 Next Target? After a long downtrend, the Coinbase stock price chart has begun following an uptrend thanks to the upcoming Coinbase earnings announcement. As the Q4 earnings report is due, bullish sentiments have formed for COIN stock performance. More importantly, the charts show the COIN forming the famous cup and handle formation, a highly bullish price pattern. The COIN stock price currently sits around $270 and has surged nearly 5%, pulling itself out of the long consolidation phase. A breakout above the trendline could confirm the upward momentum, especially if the high trading volume accompanied the price momentum. With that, a Coinbase expert, CBduck.base.eth’s stock prediction, says the COIN stock price could hit $400. Although the Coinbase stock is showcasing a bullish trend, investors should monitor further price actions and macroeconomic events to analyze the growth potential clearly. Coinbase Earnings Forecasts Coinbase has significant positive performance in the Q4 projection, where analysts anticipate the Q4 revenue is projected to be $2.18 billion, a 128.5% increase from the same quarter in 2023. The CBDuck projected EPS (Earnings Per Share) is $6.07, up 432% year-over-year. Interestingly, these numbers are much higher than Wallet Street’s expectation, as that…

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Filed under: News - @ January 5, 2025 4:32 am